The European steel market continues to show signs of weakness, with demand remaining sluggish and prices struggling to find support. According to the CRU price index for the region, the figure stood at 175.0 this week, unchanged from the prior week but still down by 7.2% compared to the same period last year. This reflects a broader trend of declining steel prices across the continent.
Looking at coil products, the European market has seen a further decline due to weak demand. In the Nordic region, hot rolled coils were quoted between 500–505 euros per ton, with some deals hitting as low as 485–490 euros. Cold rolled coils remained in the range of 560–600 euros, but buyers were pushing for lower prices. In Southern Europe, hot rolled coils traded at 475–485 euros, while cold rolled coils were around 550–560 euros. Although steel mills had strong order books in April and May due to previous production controls, some suppliers are now offering discounts to secure sales, signaling that the market is likely to remain under pressure in the near term.
In the slab segment, the European plate market is also showing weakness. Local steel producers are quoting slabs at €530–545 per tonne, while imported resources are less competitive. Chinese shipments have dropped their offer prices from €510 (CIF) to €500 (CIF), while CIS and Indian supplies are available at €435–462 per tonne (FOB). Despite this, there’s no clear sign of recovery in local demand, especially in southern Europe. However, with low inventory levels and expectations of new projects in northern Europe later this year, the heavy plate market may see a slight improvement in the coming months.
Turning to rebar, the European market has reached a bottom, particularly in Italy, where prices have fallen sharply. German rebar arrived at 500–510 euros per ton, while French and Spanish rebar was priced at 490–500 euros. Italian rebar hit a record low of 450–460 euros, prompting some mills to stop quoting prices altogether. However, one mill recently increased its factory price by 20 euros, bringing it to 470–480 euros per ton. With rising scrap prices and reduced steel supply, the Italian rebar market is expected to stabilize soon, potentially leading to a gradual recovery across the region.
Finally, in the steel section, prices have continued to fall due to weak demand. In the Nordic region, type 1 steel arrival prices dropped to 585–590 euros per ton, with some transactions as low as 580 euros. Small sections were priced at 540–550 euros. In Southern Europe, type 1 steel ex-factory prices fell from 570–590 euros to 540 euros, while small sections were quoted at 510–530 euros. As demand for long products remains extremely low, some steel mills have begun to cut production to avoid further losses. Market participants expect the supply-demand balance to improve over time, which could lead to a stabilization in steel prices in the coming weeks.Lobe Pumps For Chemicals In Paper Making
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